Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    12450 Cleveland Rd Garner, NC 27529-8353

    • Commercial real estate
    • 1,224 SF
    • 0.88 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2305062
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Kingdom Crusaders Church / Church
    • Ramsey Development Solutions / General Contractor
    • Haley Breanne Nichols / Dental Office
    • Dr. Sree Nadella / Dental Office
    • Dr. Gregg Howarth / Dental Office

    Property Details for 12450 Cleveland Rd

    Year built
    2006
    Lot size
    0.88 lot acres
    Property size
    1,224 SF
    Zone code
    COM
    Property type
    Commercial real estate
    APN
    06E02003N
    APU
    06E02003N

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Garner
    County
    Johnston
    State
    North Carolina
    Longitude
    -78.5692
    Latitude
    35.6022
    CBSA code
    39580
    CBSA name
    RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $4,830
    $383,330
    $212,910
    $596,240
    -
    $383,330
    $212,910
    $596,240

    Comparable in this City

    • Value Estimation by Request
      0.54 Acres

      1521 Mechanical Blvd

      COMMERCIAL (GENERAL) • 0.54 Acres
      1521 Mechanical Blvd, Garner, NC 27529
      View Details
    • Value Estimation by Request
      620 SF

      1503 Kenbrook Dr

      COMMERCIAL (GENERAL) • 620 SF
      1503 Kenbrook Dr, Garner, NC 27529
      View Details
    • Value Estimation by Request

      225 Glen Rd

      Land
      225 Glen Rd, Garner, NC 27529
      View Details
    • Value Estimation by Request
      3.05 Acres

      Benson Rd

      Land • 3.05 Acres
      0 Benson Rd, Garner, NC 27529
      View Details
    • Value Estimation by Request

      100 Minglewood Dr

      Land
      100 Minglewood Dr, Garner, NC 27529
      View Details
    • Value Estimation by Request
      3,800 SF

      160 Gln Rd

      COMMERCIAL (GENERAL) • 3,800 SF
      160 Gln Rd, Garner, NC 27529-7901
      View Details

    Similar Nearby for Sale

    • $850,000
      1.00 Acre

      Garner NC Commercial Land Parcels

      Four prime commercial outparcels in Garner, NC.
      1115 Timber Dr, Garner, NC 27529
      View Details
    • $750,000
      3.05 Acres

      Garner, NC: 3 Acre Development Land

      Prime Garner location, high-growth potential, retail zoning.
      Benson Rd, Garner, NC 27529
      View Details
    • $1,600,000
      2.80 Acres

      High-Traffic Garner Commercial Land

      Prime 2.8-Acre US 70 Location
      Us 70 Hwy, Garner, NC 27529
      View Details
    • Contact for pricing
      1.56 Acres

      Prime Garner Retail Opportunity

      High-visibility NC Hwy 42 retail site, build-to-suit.
      42 & Old Drugstore Rd, Garner, NC 27529
      View Details
    • Contact for pricing
      10.08 Acres

      Garner, NC Agricultural Land

      ±50 Acres, High Growth Area, Negotiable Price
      1965 Benson Rd, Garner, NC 27529
      View Details
    • $124,900
      Pending

      Garner, NC Land For Sale

      1.28 acre R-4 zoned land in Garner, North Carolina.
      215 Harper St, Garner, NC 27529
      View Details

    Similar Nearby for Lease

    • $55 SF/Yr
      9,508 SF

      Garner Office Space for Lease

      Modern Office Building, Flexible Spaces
      139 Technology Dr, Garner, NC 27529
      View Details
    • $25 SF/Yr
      1,094 SF

      Garner Retail Space - Highway 70

      High-visibility retail space, 1,094 sq ft.
      1330 5Th Ave, Garner, NC 27529
      View Details
    • Contact for pricing
      59,400 SF

      Prime Garner Industrial Flex Space

      59,400 SF Flex Warehouse Available
      500 Waterfield Ridge Pl, Garner, NC 27529
      View Details
    • Contact for pricing
      8,620 SF

      Industrial Space with Office

      Industrial space featuring office, drive-in door, and sprinkler system.
      3301 Jones Sausage Rd, Garner, NC 27529
      View Details
    • $14 SF/Yr
      31,762 SF

      Garner Industrial Building For Lease

      26,362 SF industrial building in a visible, accessible location.
      101-109 Vandora Springs Rd, Garner, NC 27529
      View Details
    • Contact for pricing
      81,000 SF

      Garner, NC Multi-Tenant Commercial

      Prime Garner location, 81,000 sqft, 2,754 sqft available.
      0 Nc-42 & Nc-50, Garner, NC 27529
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    12450 Cleveland Rd
    Garner, NC 27529-8353
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.